Matthew Beck, an analyst with the investment firm Grayscale, has shared his Zcash Price Long-term Forecast. Is it possible that ZEC will reach $60,000 by 2025?
2 February, AtoZForex – An analyst with the investment firm Grayscale, Matthew Beck, has written a 20-page thesis where he discussed the long-term Zcash price forecast. Grayscale is an investment firm behind the Bitcoin Investment Trust.
Zcash Price Long-term Forecast
In his work, Matthew Beck has predicted that Zcash price hit $60,000 by 2025. This scenario would be possible in case people started using this cryptocurrency as a substitute for the traditional offshore banking services.
Earlier last week, Grayscale Investment has issued an investment thesis for the Zcash Trust. This is the last fund in its series of cryptocurrency-built investment products that also include Bitcoin Investment Trust and Ethereum Classic Trust.
Matthew Beck has written that Grayscale believes that Zcash could be the “first globally accessible ‘offshore’ investment opportunity.” He also noted that the offshore banking sector has decreased in recent years due to “added pressure on tax evasion and increased competition.”
Mr. Back has also added that it is visible that Zcash has the potential to fill the discrepancy left by the declining offshore banking sector. In addition, it has the capability to expand the opportunity to the majority.
$60,000 by 2025 Is Possible?
According to Mr. Beck’s calculations, the Zcash price could spike in case the asset would get even a small percentage of what is stored in offshore accounts. He has stated that at one percent of the global offshore wealth, the Zcash value would reach $6,289, which accounts for more than 1,500 percent increase from its current level.
In case Zcash will manage to capture 10 percent of the offshore wealth, its price could surge to as high as $62,893.
What is Zcash?
Launched in January 2016, Zcash is a new privacy-focused Bitcoin alternative, developed from Zerocoin project. However, we all know Bitcoin is decentralized and all transaction can be traced on the blockchain.
But, with Zcash, the information is encrypted and have deeper security. The backbone of Zcash protocol is zk-SNARK. A new form of zk-SNARK is “zero-knowledge cryptography” which ensures that the transactions in Zcash are encrypted and its metadata confidentiality is preserved on the blockchain. The only information it gives is the duration of the transactions as long as it takes place.
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